Most new businesses fail–that means most entrepreneurs and CEOs fail right along with them.
What makes one person pack up his desk and go home while another shakes it off and tries again?
It’s all in the mindset.
People with a fixed mindset believe failure is a referendum on them. They think they’re not good enough and maybe they should just go mop floors somewhere.
Those who have a growth mindset, however, think
failure is a roadmap for what not to do next time.
Most businesses fail, even with good venture capital backing. But successful entrepreneurs have several similar inherent qualities:
- They have some measure of overconfidence
- To be successful, you have to have a certain amount of blindness to the risk.
- Optimistic bias is another common trait, as successful entrepreneurs tend to look on the bright side.
They look at failure and find the valuable lesson, bringing it to the next thing.
Read more: 5 Famous Entrepreneurs Who Learned From Their First Spectacular Failures